August 16, 2018 / 12:25 AM / 10 months ago

PRESS DIGEST- British Business - Aug 16

Aug 16 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

- The pound has endured its longest losing streak against the dollar since the financial crisis a decade ago because of mounting fears that the United Kingdom will crash out of the European Union in March and amid signs that the economy is struggling to gather momentum.

- The Edinburgh Woollen Mill Group owner, Philip Day is in talks with landlords to take over several House of Fraser stores in a move that could infuriate the chain's new owner, Sports Direct International Plc.

The Guardian

- The London mayor is seeking powers to limit the number of Uber Technologies Inc drivers operating in the capital, blaming a surge in private hire drivers for the city's increasing congestion and pollution.

The Telegraph

- PricewaterhouseCoopers should have raised the alarm over BHS's ability to keep trading before the stricken retailer was sold to a serial bankrupt for 1 pound ($1.27), according to the Financial Reporting Council.

- The chief executive officer of the Financial Times has been forced to hand back a 510,000 pound pay rise following an outcry among journalists, who are now threatening to ballot for strike action.

Sky News

- The Anglo-Australian mining company Rio Tinto Ltd has begun courting potential bidders for its $6 billion Canadian iron-ore‎ operations as it seeks to take advantage of a rebound in the commodity's value.

- The Royal Bank of Scotland Group Plc traders joked about ruining the U.S. housing market in the run up to the financial crisis, according to the report by U.S. Department of Justice.

The Independent

- UK rail fares to jump 3.2 percent in January as Chris Grayling, the transport secretary, calls for railway wage changes. ($1 = 0.7881 pounds) (Compiled by Bengaluru newsroom; Editing by Lisa Shumaker)

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